USD/ILS Analysis Today 25/06: Lower Values (Chart)
(MENAFN- Daily Forex) The USD/ILS is near 3.41175 and continues to traverse lower realms, and has built up bearish power since late Monday upon the announcement of a ceasefire with Iran and its implementation on Tuesday. The USD/ILS as of this writing is near the 3.41175 mark depending on the bid and ask. The currency pair has continued its bearish path which has been evident over the past handful of months and is now solidly bouncing along values seen in early 2023. The announcement and implementation of a ceasefire between Israel and Iran caused more selling of the USD/ILS.Top Forex Brokers1 Get Started 74% of retail CFD accounts lose money The ability of the USD/ILS to remain within its known mid-term price range in the midst of the Iranian/ Israeli conflict was a solid indicator financial institutions believed the Israeli Shekel remains durable. The sincere selling which saw the 3.49000 resistance level hold, and then the USD/ILS creating price velocity lower until testing the 3.40000 yesterday and today are rather remarkable 3.40000 Level as a Current BarometerEuphoric sentiment has no doubt entered the mindsets of financial institutions dealing with the USD/ILS, the currency pair did trade lower occasionally in early 2023, but now support levels will be questioned. The USD/ILS did trade at lower values from October 2020 until the spring of 2022. The Israeli Shekel over the past decade has proven a solid currency. No, the ILS doesn't have massive volume and its trading remains a rather exotic offering by brokers for their clients.However, day traders who can tolerate wide spreads and know how to use entry price orders to enter the USD/ILS may feel increasingly attracted to wagering. The 3.40000 level will likely remain a target in the short and near-term. Moves upwards to perceived technical resistance levels can be used to try and wager on quick hitting targets below which use take profit orders. The lack of volume in the USD/ILS makes the currency pair difficult to trade unless exact price targets are used and achieved via brokers' platforms and Sudden Pratfalls in the USD/ILSBefore speculators get too overconfident in the USD/ILS and its ability to move lower there remain considerations which need to be dealt with before trading.
- The political situation internally in Israel remains a challenge and could cause sudden sentiment shifts in financial institutions if instability is seen. The ceasefire between Iran and Israel needs to prove strong. Traders should not get overconfident in the bearish momentum, looking for values below the 3.39000 level in the short-term may prove too far a distance. Patience and entry price orders are essential when trading the USD/ILS in order to enter and cash out of the marketplace.

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